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Redeploying Funds

Cramer is swapping shares in one sector for another to leverage the trends he sees in play.
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Comments

I don't want to keep more than 6% of my portfolio tied up in Kimberly-Clark (KMB) , when I own other stocks that I believe have better short-term upside potential. The company's competitive position is gradually improving relative to Procter & Gamble (PG) , but both companies continue to struggle with rising input costs.

I'm going to sell 500 shares of Kimberly with the stock trading at $62.88 as I write this. This will leave me with 3,000 KMB shares.

I'm going to use some of these funds to pick up 500 shares of Cendant (CD) . The stock has pulled back below my cost basis, and I believe the travel business is steadily improving. The new Wright Express IPO also should help unlock some value for investors. This purchase will gives me a total of 3,000 shares of Cendant, or 1.8% of my total portfolio.

Regards,

James J. Cramer

DISCLOSURE: At the time of publication, Cramer was long Kimberly-Clark and Cendant.